Balance of Payments of the Republic of Lithuania, Q3 2009

  24 December 2009   BALANCE OF PAYMENTS OF THE REPUBLIC OF LITHUANIA FOR Q3 AND JANUARY–SEPTEMBER 2009      Current account. In Q3 2009, there was a surplus of LTL 704.5 million on the current account balance (CAB) of the Balance of Payments (BoP) of the country, which accounted for 2.9% of the gross domestic product (GDP). Compared to Q1 and Q2, it grew respectively by LTL 616.5 million (eightfold) and LTL 465.3 million (nearly threefold). In January–September this year, the surplus on CAB made up LTL 1.03 billion or 1.5% of GDP. In Q3 2008, CAB was in deficit by LTL 2.9 billion or –9.9% of GDP, and for January–September the same year the deficit made up LTL 12 billion or –14.5% of GDP.   CAB, and CAB to GDP ratio      CAB, LTL millions   CAB to GDP ratio, %    2008 –13,259.23    –11.9   Q1 –4,626.19    –18.8   Q2 –4,459.71    –15.5   Q3 –2,929.09    –9.9   Q1–Q3 –12,014.99    –14.5   Q4 –1,244.24    –4.4   2009     Q1 88.05 0.4 Q2 239.24 1.0 Q3 704.51 2.9 Q1–Q3 1,031.80    1.5   Changes in CAB and Composite Balances. Factors contributing to change in CAB     Q3 2009, LTL millions   Q2 2009, LTL millions   Change, % Contributions, %   Current account balance 704.51 239.24 194.5 194.5 Trade balance –750.39    –673.44    11.4 –32.2   Balance of services 410.32 146.00 181.0 110.5 Income balance –45.93    –243.43    –81.1   82.6 Balance of current transfers 1,090.51    1,010.11    8.0 33.6   The change in CAB for Q3 2009 was largely a result of a higher surplus on the service balance and a lower deficit on the income balance.     Q1–Q3 2009, LTL millions   Q1–Q3 2008, LTL millions   Change, % Contributions, %   Current account balance 1,031.80    –12,014.99    –108.6   –108.6   Trade balance –1,916.58    –10,868.10    –82.4   –74.5   Balance of services 945.30 538.26 75.6 –3.4   Income balance –829.40    –3,760.33    –77.9   –24.4   Balance of current transfers 2,832.4